New 2-person LLC added in 2021, what will change when I file?

[shred12]

I started a partnership LLC on a vacation home. Normally, I just enter the family's taxes, married filling jointly, but now there is another person tied to the LLC. What do I need to change with TT to properly file?

[AnnetteB6]

The 2 person LLC partnership will need to file its own tax return using Form 1065 for Partnerships.  Part of this process will generate a K-1 for each person in the partnership based on their percentage of ownership.  Each person's K-1 will then be entered into their personal Form 1040 tax return, reporting their share of the rental income and expenses.

You can use TurboTax Business to create and file the partnership tax return.

Use this link to learn more:  TurboTax Business